Deals
McKesson, Elliott Agree on Celesio Offer at 23.50 Euros
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McKesson Corp. raised its bid for German drug distributor Celesio AG, winning support from U.S. hedge fund Elliott Management Corp., which opposed the original offer as too low.
McKesson will offer 23.50 euros a share, up from 23 euros previously, the San Francisco-based company said in a statement today. The company’s “best and final” tender offer, now valued at about 4 billion euros ($5.4 billion), expires at midnight Frankfurt time tonight, McKesson said.